The U.S. stock market opened lower this morning, and continues to head still downward. At just past noon in New York, the Dow Industrial Average is lower by 135 points; the broader S&P 500 Index is off 17 points; and the NASDAQ, which hit a milestone high yesterday, is surrendering 45 points.
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The first trading day of the month of March was a productive one for those long equities. The major U.S. equity indexes started the day to the upside and never really looked back on the way to an impressive winning session, one that saw the technology heavy NASDAQ pass the physiologically significant 5,000 mark for the first time since around the turn of the century.
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The final trading day of a ho-hum week for equities on Wall Street went to the bears. Some disappointing U.S. economic news and a mixed earnings performance from Corporate America likely were behind the profit taking, which saw selling pick up a bit over the final two hours of trading.
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The U.S. stock market put in a somewhat choppy session today, and ultimately ended on a mixed note. At the close of the session, the Dow Industrial Average was off just 10 points; the broader S&P 500 Index was also down three points; while the NASDAQ was ahead 21 points.
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It was a nondescript day of trading on Wall Street today, with the major equity averages never straying too far from the neutral line. The major indexes spent much of the first half of trading modestly higher, following an initial drop, with continued support coming in the form of dovish comments by Federal Reserve Chair Janet Yellen, who concluded her two-day testimony before Congress.
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The buyers returned to the market today after a brief one-day hiatus. The bulls got a boost from what could be termed some dovish statements by Federal Reserve Chair Janet Yellen before Congress. Also helping were strong earnings from home-improvement giant Home Depot, a decent reading on consumer confidence, an uptick in home prices in December, and some building sentiment that Greece’s government’s submitted list of reforms to its creditors will eventually lead to final approval for extended rescue loans for the struggling nation.
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The major U.S. equity averages, which began the final week of February at multiyear highs, never strayed too far from the neutral line, but they were in the red for most of the session and the selective selling did hold steady in the final hour.
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Stocks turned around sharply today after a lackluster start when reports indicated a deal in Europe was in the works to loan Greece money so the debt-strapped nation could continue on as a member of the European Union. For the session, the Dow Jones Industrial Average rose 154 points; the NASDAQ tacked on 31 points; and the S&P 500 added 13 points.
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The U.S. stock market put in a mixed, and somewhat quiet, session today. At the close of trading, the Dow Industrial Average was off 44 points; the broader S&P 500 Index was down slightly; and the NASDAQ was higher by 18 points. The session had a neutral tone, as advancing and declining issues were about even on NYSE.
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It was a ho-hum trading day on Wall Street, with the major averages never straying too far from the neutral line. For much of the session, the bears were in charge, but their grip was loose, as most of the major equity groups were still trading in positive territory. In fact, the case for the bears was being made by weakness in the energy, financial, and telecommunications group.
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